I haven't been able to dig up a lot of info on the particulars of this arrangement. Basically I'm looking at a situation where I'd take on % of the mortgage repayments and/or inject some funds into the mortgage in order to enter a tenants-in-common type arrangement for a % share in an already mortgaged property.
I have lots of questions, like:
- Do I still need to pay stamp duty on this 'purchase'
- How does mortgage liability etc work, I'm guessing all parties are jointly and severely liable?
- Is doing it "off the books" illegal?
Any info, experiences, or direction to good resources on this would be much appreciated.
Cheers
I have lots of questions, like:
- Do I still need to pay stamp duty on this 'purchase'
- How does mortgage liability etc work, I'm guessing all parties are jointly and severely liable?
- Is doing it "off the books" illegal?
Any info, experiences, or direction to good resources on this would be much appreciated.
Cheers